Advisors Asset Management Inc. Reduces Position in Regions Financial Co. (NYSE:RF)

Advisors Asset Management Inc. trimmed its holdings in shares of Regions Financial Co. (NYSE:RF) by 27.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 77,177 shares of the bank’s stock after selling 29,384 shares during the quarter. Advisors Asset Management Inc.’s holdings in Regions Financial were worth $1,801,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. American National Bank & Trust boosted its position in shares of Regions Financial by 1,856.7% during the third quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock worth $27,000 after buying an additional 1,114 shares during the period. EntryPoint Capital LLC acquired a new position in shares of Regions Financial during the first quarter worth approximately $26,000. Quarry LP boosted its position in shares of Regions Financial by 157.2% during the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after buying an additional 816 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Regions Financial by 530.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock worth $30,000 after buying an additional 1,256 shares during the period. Finally, Innealta Capital LLC acquired a new stake in Regions Financial in the second quarter worth approximately $32,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RF. Citigroup upped their target price on Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday. DA Davidson increased their price objective on Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Stephens raised shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 target price on the stock in a research note on Tuesday, October 29th. Wells Fargo & Company boosted their target price on shares of Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. Finally, Truist Financial boosted their target price on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $26.41.

Regions Financial Stock Up 2.0 %

NYSE RF opened at $27.28 on Monday. Regions Financial Co. has a twelve month low of $15.79 and a twelve month high of $27.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a market cap of $24.79 billion, a PE ratio of 15.41, a PEG ratio of 2.77 and a beta of 1.16. The firm has a 50-day simple moving average of $24.05 and a 200 day simple moving average of $21.84.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the business earned $0.49 EPS. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, research analysts forecast that Regions Financial Co. will post 2.12 EPS for the current year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 3.67%. Regions Financial’s payout ratio is currently 56.50%.

Regions Financial Company Profile

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.